The Gross Domestic Product (GDP) dropped by 1.8 percent in the second quarter of 2017, the State Statistical Office said on Thursday. Last year in the same period Macedonia recorded a increase by 2,9%.
Exports of goods and services increased by 8.5% year-on-year in the second quarter of 2017, while imports grew by an annual 3.5%, Makstat said in a statement.
Macedonia's final consumption grew by an estimated 3.7% on the year in the April-June period, with household consumption adding 4.1% and government consumption rising by 2.0%.
Gross capital formation declined by 19.9% year-on-year in the second quarter - dramatic changes after Macedonia is lead by a new government headed by socialdemocrats.
In the first quarter of 2017, Macedonia economy posted zero growth. In 2016, Macedonia posted economic expansion of 2.4%.
Macedonia's annual inflation speeds up in August
Macedonia's consumer prices rose 1.9% year-on-year in August, after increasing by an annual 1.2% in the previous month, the state statistical office said on Thursday.
The prices of food and non-alcoholic beverages, which have the largest weight of 39% in the consumer basket, rose 1.1% on the year, after edging up 0.9% in July. The prices of housing, water, electricity, gas and other fuels, which have the second-largest weight of 13.6%, stayed unchanged year-on-year in August, after decreasing by 0.4% in July. Prices in the transport segment, with 8% weight in the consumer basket, added 6.9% on the year, following a 1.9% rise in the previous month. On a monthly comparison basis, consumer prices edged up by 0.4% in August after remaining unchanged in July.
Macedonia's final consumption grew by an estimated 3.7% on the year in the April-June period, with household consumption adding 4.1% and government consumption rising by 2.0%.
Gross capital formation declined by 19.9% year-on-year in the second quarter - dramatic changes after Macedonia is lead by a new government headed by socialdemocrats.
In the first quarter of 2017, Macedonia economy posted zero growth. In 2016, Macedonia posted economic expansion of 2.4%.
Macedonia's annual inflation speeds up in August
Macedonia's consumer prices rose 1.9% year-on-year in August, after increasing by an annual 1.2% in the previous month, the state statistical office said on Thursday.
The prices of food and non-alcoholic beverages, which have the largest weight of 39% in the consumer basket, rose 1.1% on the year, after edging up 0.9% in July. The prices of housing, water, electricity, gas and other fuels, which have the second-largest weight of 13.6%, stayed unchanged year-on-year in August, after decreasing by 0.4% in July. Prices in the transport segment, with 8% weight in the consumer basket, added 6.9% on the year, following a 1.9% rise in the previous month. On a monthly comparison basis, consumer prices edged up by 0.4% in August after remaining unchanged in July.
Analysts are shocked from the bad start of the new government in Macedonia and of the dramatic changes in the macedonian economy. The first 100 days passed since the new government took over power but forgot the macedonian economic completely.
